Safaricom PLC has moved to calm fears from the company’s shareholders after reports emerged over the impending exit of the group's CEO Bob Collymore.
The reports by several media outlets suggested that Collymore was set to step down in August this year due to health reasons.
The major article that caught the company board's attention was by Reuters which was tited ‘Safaricom CEO to leave as row erupts over successor – sources’.
In response, Safaricom Chairman Nicholas Ng’ang’a indicated that the CEO was in good health and firmly in charge.
He went to clarify that the board would place a robust recruitment process that adhered to global best practice when it came to the point where a decision was made on the issue.
“I'm happy to report that the board is encouraged by the quick recovery of Bob Collymore who remains firmly in charge and is doing a great job our leading our company and delivering our purpose of transforming lives,” stated Ng’ang’a.
In a statement to media houses, Safaricom also revealed that the board was yet to make a decision on the matter.
Collymore has been credited with raising the company to be the most profitable one in East Africa.
Reuters had also alleged that Safaricom had begun interviews for potential replacements but hit a snag after the government ordered that the next CEO must be Kenyan.
Safaricom, which is 35 percent owned by South Africa’s Vodacom, controls about 62 percent of Kenya’s mobile market, with 30 million subscribers.
Britain’s Vodafone has a 5 percent stake and the Kenyan government 35 percent.
